Nov 9 Hong Kong shares eased further from their
2012 highs on Friday, as weak overseas markets spurred
profit-taking in China-focused shares, dragging the benchmark to
its worst weekly performance since mid-July.
The Hang Seng index fell 0.9 percent to 21,384.4
while the China Enterprises index fell 0.7 percent, with
recent outperformers, such as banking and energy shares, the
biggest drags. Both indices lost more than 3 percent this week.
On the mainland, the CSI300 of top Shanghai and
Shenzhen listings fell 0.2 percent while the Shanghai Composite
closed down 0.1 percent. The indices lost 2.9 percent
and 2.3 percent on the week respectively.
* Chinese banking and energy shares, the best performing
sectors in October, were hit by more profit-taking and were the
biggest drags on the Hang Seng. China Construction Bank
and Petrochina fell 1 percent while Sinopec
dropped 1.6 percent.
* Shares of Chow Tai Fook Jewellery Group Ltd fell
nearly 5.6 percent after China's top jewellery retailer warned
of lower profit margins due to gold hedging activities.
* Bucking the weaker trend, Lenovo Group added 5.8
percent and neared a three-month high following second-quarter
results. Telecom hardware maker ZTE rose 1.9 percent.